NBER Working Papers

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977: Labor Force Participation: Timing and Persistence

Kim B. Clark and Lawrence Summers

976: Life-Cycle Effects on Consumption and Retirement

Daniel Hamermesh

975: Unemployment with Observable Aggregate Shocks

Sanford Grossman, Oliver Hart and Eric Maskin

974: A Transactions Based Model of the Monetary Transmission Mechanism: Part 2

Sanford Grossman

973: A Transactions Based Model of the Monetary Transmission Mechanism: Part 1

Sanford Grossman and Laurence Weiss

972: A Theory of Expropriation and Deviations From Perfect Capital Mobility

Jonathan Eaton and Mark Gersovitz

971: Anticipations, Recessions and Policy: An Intertemporal Disequilibrium Model

Olivier Blanchard and Jeffrey Sachs

970: The Optimal Level of Social Security Benefits

Martin Feldstein

969: The Welfare Cost of Social Security's Impact on Private Saving

Martin Feldstein

968: An Extended Accelerator Model of R&D and Physical Investment

Jacques Mairesse and Alan K. Siu

967: Tax Policy and Foreign Direct Investment in the United States

David G. Hartman

966: The Fiscal Framework of Monetary Policy

Martin Feldstein

965: Government Debt and Private Leverage: An Extension of the Miller Theorem

Robert L. McDonald

964: The Economic Effects of Government Expenditures

Laurence Kotlikoff

963: Exchange Rates, Inflation and the Sterilization Problem: Germany, 1975-1981

Maurice Obstfeld

962: Pension Wealth and Household Savings: Tests of Robustness

Louis Dicks-Mireaux and Mervyn A. King

961: Comparing Productivity Growth: An Exploration of French and U.S. Industrial and Firm Data

Zvi Griliches and Jacques Mairesse

960: International Portfolio Diversification: Short-Term Financial Assets and Gold

Jorge Braga de Macedo, Jeffrey A. Goldstein and David M. Meerschwam

959: Optimal Currency Diversification for a Class of Risk Averse International Investors

Jorge Braga de Macedo

958: The Reaction of Stock Prices to Unanticipated Changes in Money

Douglas Pearce and V. Vance Roley

957: Pension Funding, Pension Asset Allocation, and Corporate Finance: Evidence From Individual Company Data

Benjamin M. Friedman

956: Valuing Pensions (Annuities) with Different Types of Inflation Protection in Total Compensation Comparisons

James Pesando

955: Taxes, Firm Financial Policy and the Cost of Capital: An Empirical Analysis

Alan Auerbach

954: The Theory of Local Public Goods Twenty-Five Years After Tiebout: A Perspective

Joseph Stiglitz

953: OSHA Enforcement, Industrial Compliance and Workplace Injuries

Ann P. Bartel and Lacy Glenn Thomas

952: Long Run Trends in Patenting

John J. Beggs

951: Tax Effects on the Allocation of Capital Among Sectors and Among Individuals: A Portfolio Approach

Joel Slemrod

950: General Equilibrium and Business Cycles

Fischer Black

949: A Synthesis of Keynesian, Monetary, and Portfolio Approaches to FlexibleExchange Rates

Thorvaldur Gylfason and John Helliwell

948: Are High Income Individuals Better Stock Market Investors?

Martin Feldstein and Shlomo Yitzhaki

947: Domestic Saving and International Capital Movements in the Long Run and the Short Run

Martin Feldstein

946: Cost Implications of Hospital Unionization: A Behavioral Analysis

David Salkever

945: Bubbles, Rational Expectations and Financial Markets

Olivier Blanchard and Mark Watson

944: Pensions as Severance Pay

Edward Lazear

943: Are Inflation Rates Different for the Elderly?

Michael J. Boskin and Michael Hurd

942: World Shocks, Macroeconomic Response, and the Productivity Puzzle (Rev)

Michael Bruno

941: The Leading Indicator Approach to Economic Forecasting--Retrospect and Prospect

Philip A. Klein and Geoffrey H. Moore

940: Minimum Hours Constraints and Retirement Behavior

Alan Gustman and Thomas L. Steinmeier

939: Torts in Which Victim and Injurer Act Sequentially

Steven Shavell

938: Pension Funding Decisions, Interest Rate Assumptions and Share Prices

Martin Feldstein and Randall Morck

937: Products Liability, Consumer Misperceptions, and Market Power

A. Mitchell Polinsky and William P. Rogerson

936: A Framework for Monetary and Banking Analysis

Stanley Fischer

935: Optimal Funding and Asset Allocation Rules for Defined-Benefit Pension Plans

J. Michael Harrison and William Sharpe

934: The American Fiscal Deficit: Facts and Effects

Herschel Grossman

933: Estimating Distributed Lags in Short Panels with an Application to the Specification of Depreciation Patterns and Capital Stock Constructs

Ariel Pakes and Zvi Griliches

932: The Optimal Use of Fines and Imprisonment

A. Mitchell Polinsky and Steven Shavell

931: Investment in R&D, Costs of Adjustment and Expectations

Mark Schankerman and M. Ishaq Nadiri

930: Consumption During Retirement: The Missing Link in the Life Cycle

Daniel Hamermesh

929: Taxes and the User Cost of Capital for Owner-Occupied Housing

Patric Hendershott and Joel Slemrod

928: Public Policy and Employment Discrimination in the U.S

Richard Freeman

927: Economic Implications of ERISA

Jeremy I. Bulow, Myron Scholes and Peter Menell

926: Effects of U.S. Monetary Restraint on the DM-$ Exchange Rate and the German Economy

Jacques R. Artus

925: LDC Borrowing with Default Risk

Jeffrey Sachs and Daniel Cohen

924: Who Owns the Assets in a Defined Benefit Pension Plan

Jeremy I. Bulow and Myron Scholes

923: Trade Structure and Transmission of Inflation: Theory and Japanese Experience

Jongmoo Jay Choi and M. Ishaq Nadiri

922: Investing for the Short and the Long Term

Stanley Fischer

921: International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates: A Review of Recent Evidence

Robert Cumby and Maurice Obstfeld

920: Unemployment Insurance and Labor Force Transitions

Kim B. Clark and Lawrence Summers

919: Domestic Tax Policy and the Foreign Sector: The Importance of Alternative Foreign Sector Formulations to Results from a General Equilibrium

Lawrence H. Goulder, John B. Shoven and John Whalley

918: The Economics of Mortgage Terminations: Implications for Mortgage Lenders and Mortgage Terms

Patric Hendershott, Sheng Cheng Hu and Kevin E. Villani

917: Federal Reserve Policy, Interest Rate Volatility, and the U.S. Capital Raising Mechanism

Benjamin M. Friedman

916: Productivity Growth and R&D at the Business Level: Results From the PIMS Data Base

Kim B. Clark and Zvi Griliches

915: Interest Rate Volatility and Monetary Policy

Carl Walsh

914: The Economic Status of the Elderly

Michael Hurd and John B. Shoven

913: Panel Data

Gary Chamberlain

912: Optimal Control of the Money Supply

Robert Litterman

911: A Comparison of Methodologies in Empirical General Equilibrium Models of Taxation

Don Fullerton, Yolanda K. Henderson and John B. Shoven

910: On Consumption-Indexed Public Pension Plans

Robert Merton

909: Exchange-Rate Policy After a Decade of "Floating"

William Branson

908: Who Does R&D and Who Patents?

John Bound, Clint Cummins, Zvi Griliches, Bronwyn Hall and Adam Jaffe

907: The Production and Cost of Ambulatory Medical Care In Community Health Centers

Fred Goldman and Michael Grossman

906: Inflation Uncertainty and Interest Rates: Theory and Empirical Tests

Richard Hartman and John Makin

905: Are Bond-Financed Deficits Inflationary? A Ricardian Analysis

Bennett McCallum

904: Macroeconomic Implications of Alternative Exchange Rate Models

John Helliwell and Paul M. Boothe

903: Portfolio Composition and Pension Wealth: An Econometric Study

Louis Dicks-Mireaux and Mervyn A. King

902: Private Pensions and Public Pensions: Theory and Fact

Alan Blinder

901: Monetary and Fiscal Policy with Flexible Exchange Rates

William Branson and Willem Buiter

900: Price Asynchronization and Price Level Inertia

Olivier Blanchard

899: International Competition and the Unionized Sector

Gene Grossman

898: Intertemporal Substitution in Macroeconomics

N. Gregory Mankiw, Julio Rotemberg and Lawrence Summers

897: The Taxation of Risky Assets

Jeremy I. Bulow and Lawrence Summers

896: Retirement Annuity Design in an Inflationary Climate

Zvi Bodie and James Pesando

895: Productivity Measurement Using Capital Asset Valuation to Adjust for Variations in Utilization

Ernst R. Berndt and Melvyn A. Fuss

894: The Liquidity Trap and the Pigou Effect: A Dynamic Analysis with Rational Expectations

Bennett McCallum

893: Money Stock Control with Reserve and Interest Rate Instruments Under Rational Expectations

Bennett McCallum and James G. Hoehn

892: Replacing the U.S. Income Tax with a Progressive Consumption Tax: A Sequenced General Equilibrium Approach

Don Fullerton, John B. Shoven and John Whalley

891: The Production and Inventory Behavior of the American Automobile Industry

Olivier Blanchard

890: Changes in American and British Stature Since the Mid-Eighteenth Century: A Prelimanary Report on the Usefulness of Data on Height

Robert Fogel, Stanley L. Engerman, Roderick Floud, Richard Steckel and James Trussell

889: Inflationary Finance under Discrepion and Rules

Robert Barro

888: Time-Separable Preference and Intertemporal-Substitution Models of Business Cycles

Robert Barro and Robert King

887: Post-War Capital Accumulation and the Threat of Nuclear War

Joel Slemrod

886: Interest Rate Implications for Fiscal and Monetary Policies: A Postscript on the Government Budget Constraint

Benjamin M. Friedman

885: An Intertemporal Model of Saving and Investment

Andrew Abel and Olivier Blanchard

884: Stock Issues and Investment Policy When Firms Have Information That Investors Do Not Have

Stewart C. Myers and Nicholas S. Majluf

883: Measuring the Fed's Revenue from Money Creation

Robert Barro

882: The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis

Fumio Hayashi

881: The Economic Foundations of East-West Migration During the Nineteenth Century

Richard Steckel

880: Height and Per Capita Income

Richard Steckel

879: Piece Rate vs. Time Rate: The Effect of Incentives on Earnings

Eric Seiler

878: What! Another Minimum Wage Study?

Mary Eccles and Richard Freeman